December 15, 2011
Wall St. seeks dismissal of Ala. record bankruptcy
"Wall Street creditors asked a judge Thursday to throw out the record bankruptcy filed by Alabama's largest county over more than $4 billion in debt, arguing state law doesn't allow it."
December 14, 2011
Mobile PACER Case Locator Debuts
The most widely used feature of the federal Judiciary’s Public Access to Court Electronic Records (PACER) service has gone mobile.
American Airlines' $30 million London town house
"Buried deep in American Airlines' Chapter 11 bankruptcy filing is a striking asset -- a town house in one of London's most expensive residential streets that property experts say could be worth up to $30 million."
December 13, 2011
Supreme Court Granted Cert. Today in RadLAX Gateway Hotel, LLC vs. Amalgamated Bank
Jon and Roksana,
A note to let you know that the Supreme Court granted cert. today in RadLAX Gateway Hotel, LLC vs. Amalgamated Bank (11-166) rising from the 7th Circuit, containing an important chapter 11 issue: whether a bankruptcy court may confirm a plan of reorganization that proposes to sell substantially all of the debtor’s assets without permitting secured creditors to bid with credit.
The Third and Fifth Circuits hold that creditors are not entitled to credit bid under these circumstances, and the Seventh Circuit held to the contrary. There doesn’t seem to be definitive 9th Circuit case law on this issue.
A group of “Bankruptcy Scholars” presented an amicus brief supporting review of the 7th Cir. decision, arguing that “(1) the appellate courts have extensively considered the question presented; (2) the doctrine of “equitable mootness” impedes the development of deeper splits over legal questions concerning plans of reorganization; (3) an unusually permissive venue statute allows debtors to forum shop, increasing the importance of providing a uniform national construction of the Bankruptcy Code; and (4) the answer to the question presented holds billions of dollars in the balance.”
Here is the 7th Circuit Opinion which will be reviewed:
Regards, Judge Clarkson
UC Irvine Announces Better Clerkship Numbers Than Almost Everyone Else
Thank you to the Hon. Scott Clarkson for the lead on this:
"UC Irvine Announces Better Clerkship Numbers Than Almost Everyone Else" By Christopher Danzing
United States Bankruptcy Court - Central District of California
Santa Ana, CA
December 12, 2011
New Debate Published in the Texas Law Review
Dear Mr. Hayes:
You may be interested in a new debate published today in the Texas Law Review and its online companion publication, See Also, concerning whether Chapter 13 is merely a "pretend solution" warranting wholesale reform. Professor Katherine Porter takes that position in a new article published in the Texas Law Review, and Chapter 13 Trustee Henry E. Hildebrand, III, and Professor William C. Whitford (Wisconsin). Mr. Hildebrand argues that Professor Porter's position is overstated and can better be explained by the drafting of unrealistic repayment plans, among other things. Professor Whitford's Response agrees with the premise of a fatally flawed system but proposes a near-term solution that would mitigate the effect of local legal culture on Chapter 13 decisions. Their articles can be accessed at http://www.texaslrev.com/issues/vol/90/issue/1/porter (with the Whitford and Hildebrand responses available on the right-hand side of the page).
Today, See Also becomes the first online companion publication of a law review to publish responses with the corresponding print volume. Other responses in this issue of See Also include, among others:
· A review from a leading expert in forensic science concerning a student proposal for state oversight of forensic science laboratories.
· A response from the Co-Reporters of Restatement (Third) of Torts concerning the application of indivisible injury doctrine.
The full issue of See Also is available at http://www.texaslrev.com/seealso?volume=90&issue=1 (right-hand side).
The Texas Law Review, is an independent operation, edited and published entirely by students of the University of Texas School of Law. The Texas Law Review was founded by Professor Leon Green in 1922 and published its first issue that year. The Texas Law Review now publishes seven issues annually and is currently publishing its 90th volume.
Please let me know if you have any questions. We hope that this content is of interest to your readers.
Online Content Editor
Texas Law Review, Vol. 90